Social Security is a lifeline for millions of older Americans. In fact, for more than one-third of men and nearly half of women, benefits make up at least half of their income in retirement, according to the most recent data from the Social Security Administration.
It's wise, then, to ensure you're collecting as much as possible from Social Security. While you may already be entitled to retirement benefits, if you're married, divorced, or widowed, you could qualify for extra money each month.
1. Spousal benefits
If you're married to someone who qualifies for retirement or disability Social Security, you could be eligible to receive spousal benefits based on your partner's work history.
To qualify, you must currently be married and be at least 62 years old to begin claiming. The maximum amount you can collect is 50% of what your spouse is entitled to receive at their full retirement age (FRA).
If you're also entitled to retirement benefits based on your own work record, you can still claim spousal benefits. However, you'll only receive the higher of the two amounts -- not both.
For example, say you qualify for $800 per month in retirement benefits, and your spouse will collect $2,000 per month at their FRA. In this case, the most you can receive is $1,000 per month -- not $1,800 per month. If you were entitled to, say, $1,200 per month based on your own work record, you wouldn't qualify for spousal benefits at all.
2. Divorce benefits
Divorce benefits are similar to spousal benefits in many ways, but there are a few more requirements you'll need to meet in order to qualify.
- You can't currently be married: However, if your ex-spouse has remarried, it won't affect your ability to claim divorce benefits.
- Your previous marriage must have lasted at least 10 years: Also, if you've been divorced for fewer than two consecutive years, you'll need to wait until your ex-spouse files for Social Security before you can begin claiming divorce benefits.
- You must be at least 62 years old: To receive the full divorce benefit you're entitled to, you'll need to wait until your FRA to file.
As with spousal benefits, the most you can receive is 50% of the amount your ex-spouse is entitled to at their FRA. If you're also entitled to your own retirement benefits, you'll only receive the higher of the two amounts.
Finally, any benefits you collect won't affect your ex-spouse's monthly payments. It also won't impact any spousal benefits their current partner may receive.
3. Survivors benefits
If your spouse has passed away, you could be eligible to receive survivors benefits. These are generally reserved for widows and widowers but are sometimes also available to divorced spouses, parents, children, and other family members.
To qualify for survivor benefits, you must be at least 60 years old (or 50 years old if you're disabled). If the deceased has a child under your care who is either under age 16 or disabled, you could receive survivors benefits at any age.
In many cases, widows and widowers can collect the deceased person's entire benefit amount in survivors benefits. For divorced spouses or other family members, the amount you'll collect will depend on your relation to the person and how many other people are claiming benefits on the deceased's record.
If you're married, divorced, or widowed, you could receive more than you think from Social Security. By taking advantage of every type of benefit you're entitled to, you can head into your senior years as prepared as possible -- and enjoy a more financially secure retirement.